What is Verification of Payee (VoP)?
Verification of Payee (VoP) is a European mechanism designed to make SEPA credit transfers more secure.
Starting October 9, 2025, VoP will be mandatory for all payment service providers in the SEPA area, including banks.
In practice, VoP checks in real time whether the IBAN entered matches the beneficiary’s name before executing a transfer.
The result displayed to the payer may appear as follows:
✅ Match → exact correspondence
⚠️ Close match → near correspondence
❌ No match → no correspondence
⏸️ No answer → verification not possible
Why has this regulation been introduced?
VoP has two main objectives:
Reduce transfer errors (e.g., a typo in the beneficiary’s name)
Limit fraud (fake bank details, invoice fraud, identity theft)
It applies to everyone making SEPA transfers: individuals, professionals, businesses, and associations.
⚠️ If the result is anything other than an exact match, the transfer is not blocked: the payer can still manually confirm the transaction after verifying the details.
What is the impact on your collections with Fintecture?
Immediate Transfer
Our Immediate Transfer solution, based on Payment Initiation Services (PIS), is exempt from VoP
The match between the bank account details and the merchant entity is verified when the account is activated. The process is therefore automated, secure, with no IBAN entry required and no alerts for the payer
Result: the customer journey remains unchanged.
Smart Transfer
If you have a Fintecture intermediate account, a personalised IBAN in the name of Fintecture is generated for each transfer initiated via Smart Transfer
To ensure optimal matching:
The payer must enter Fintecture as the beneficiary when adding the IBAN
If the payer enters your company’s name as the beneficiary, a “Close match” or “No match” alert may appear
In practice: it is essential to clearly communicate to your customers that Fintecture must be entered as the beneficiary to secure your collections and preserve your conversion rates.
If you have a payment account (wallet), the payer must enter your company name as the beneficiary when adding the IBAN.
👉 In all cases, the transfer is not blocked: the customer can still manually confirm the transaction if they recognise the beneficiary.